On Friday we saw price breaking out of the ascending trendline followed by a nice retest. Then we had a downside impulse that confirmed the reversal.
Right now, we expect this downside move to continue. First target will be $1793 and if we see a breakout there we could see even lower values. Make sure to watch out for our analysis so you can see how it goes.
The level at which this setup is ruined is $1826! In case we see price closing above it, then that would mean that this downside move doesn't have enough strength to continue and we shouldn't be in short positions.
Best entry signal would be a candle with a long wick to the upside or a breakout of previous lows.
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